<html> <head> <title>Rule 20:06:04:43 Exemption of certain securities from insider trading.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:04:43"> <META NAME="Description" Content="Administrative Rules 20:06:04:43 Exemption of certain securities from insider trading."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:06:04:43.&nbsp;&nbsp;Exemption of certain securities from insider trading.</b> A security is exempt from the operation of SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-70">58-5-70</A> to the extent necessary to render lawful under that section the execution by a broker of an order for an account in which the broker has no direct or indirect interest.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 4 SDR 6, effective August 9, 1977; 12 SDR 151, 12 SDR 155, effective July 1, 1986.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-77">58-5-77.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-70">58-5-70.</A></p> </div> </body> </html>